Accountants React to New Tax Act
674 views • 7/19/2019
Once again, our elected officials put together an ill-thought out tax act of over 1100 pages, yet just a couple actually had time to read it. None had time to study the language, identify the areas of effect, study those areas and form quality opinions befitting a multi-billion dollar tax bill.
| 00:00 - 00:03 | Congress is about to pass a new tax bill |
| 00:04 - 00:05 | No one has read all of it |
| 00:05 - 00:07 | 1100 pages stretch from here |
| 00:08 - 00:12 | almost to here...very big |
| 00:12 - 00:15 | Its a very big tax bill |
| 00:17 - 00:19 | And no one has read it? |
| 00:19 - 00:21 | No one has read it? |
| 00:24 - 00:26 | No sir, no one has read it all |
| 00:27 - 00:28 | There wasn't time |
| 00:31 - 00:33 | And we ran out of ink and paper |
| 00:34 - 00:36 | Office Depot was closed |
| 00:53 - 00:58 | All juniors go play on your phones |
| 01:13 - 01:15 | What is Congress doing? |
| 01:15 - 01:17 | How are we supposed to advise our clients? |
| 01:18 - 01:23 | And we have 90 days to finish returns? Does Intuit know? CCH? Thomson Reuters? |
| 01:25 - 01:28 | I can't connect to wi-fi here |
| 01:29 - 01:31 | Me neither, its ok |
| 01:31 - 01:34 | What happened to the days when Gail Pasternack |
| 01:34 - 01:37 | would go down to the House Ways & Means Subcommittee |
| 01:37 - 01:40 | and show them what the effect of their bill would be? |
| 01:40 - 01:42 | Gail Pasternack retired a few years ago |
| 01:42 - 01:46 | I don't care go find her! |
| 01:46 - 01:48 | She's down in Florida somewhere |
| 01:48 - 01:52 | I don't care where she is |
| 01:53 - 01:54 | Do I have to do all the thinking? |
| 01:56 - 01:57 | Maybe we can get her son Jeff's help with this |
| 01:57 - 02:00 | He's not as smart as his brother but he's handsome |
| 02:00 - 02:03 | He can use his Happy Day magic and make Congress stop this lunacy |
| 02:04 - 02:08 | The software won't be ready until September with all the changes |
| 02:08 - 02:13 | and even then it will be some beta-version crap like we had with the Affordable Care Act |
| 02:14 - 02:16 | Someone has got to stop this madness of enacting |
| 02:17 - 02:21 | tax bills that no one reads...why did people vote those idiots into office? |
| 02:27 - 02:29 | What happened to the old days when Congress |
| 02:30 - 02:34 | read the bills and obtained real-world feedback from practitioners like us? |
| 02:34 - 02:36 | We don't wear pocket protecters any more. |
| 02:41 - 02:42 | What happened to the lobbyists |
| 02:43 - 02:47 | that the AICPA pays to look out for our best interests? We don't get any sleep as it is |
| 02:48 - 02:53 | and my doctor won't write me any more prescriptions for Vyvanse or Adderal, and the kids |
| 02:54 - 02:56 | are charging me $5 a pill so I can work 20 |
| 02:56 - 02:59 | hours a day just to keep up with the tax work we have |
| 03:00 - 03:02 | What do they want us to do, start smoking meth? |
| 03:04 - 03:07 | You can log onto Facebook soon |
| 03:14 - 03:16 | Fine. Let's call the clients |
| 03:19 - 03:23 | We'll tell them that we have to extend their returns. |
| 03:25 - 03:26 | Blame the stock brokers, |
| 03:31 - 03:33 | even if they referred the client to us. |
| 03:40 - 03:46 | Their lobbyists got them until April 1 to send final versions of brokerage statements and we can't finish |
| 03:46 - 03:49 | their returns without the final 1099s. |
| 03:53 - 03:56 | Call my shrink...I need an intervention. |
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